Principal Solar, Inc. Announces Public Trading of Its Common Stock (PSWWD.pk)
05/25/2011| 12:55pm US/Eastern
Solar, Inc (PSI), a renewable energy holding company which
concentrates its resources on rapidly advancing the inevitable,
worldwide utilization of solar energy through a unique roll-up strategy,
today announced the public trading of its common stock. The Company is
quoted on the Over-The-Counter (OTC) Electronic Pink Sheets (NQB) under
the symbol PSWWD.pk, which transitions to PSWW on June 23, 2011.
"By acquiring best-in-class solar companies, PSI will establish itself
as the world's leading provider of solar energy -- the most promising,
price-competitive, and abundant clean energy source for the future,"
Gorton, chief executive officer and chairman of PSI, noting that in
the near term the cost of photovoltaic (PV) solar power will compete
with and actually be lower than traditional sources of energy created by
fossil fuels. "Timing for this launch is ideal, given the nod on solar
energy from Capitol Hill, the accelerating solar market and the vote of
confidence from front-line investors. Solar stocks are poised to
dramatically escalate in 2011, attracting attention from growth and
value investors, especially as broad energy prices rise."
According to the Solar Energy Industries Association (SEIA), U.S.
installations increased 67 percent to $6 billion in market value last
year. PV installations also grew 102 percent to reach 878 megawatts for
grid connections while tripling for utilities to 242 megawatts.
PSI is undertaking multiple acquisitions of solar companies that are
well-positioned for growth based upon their geography, size, revenue,
market footprint, and corporate leadership.
Robert Shuey, principal, Pegasus
Funds, a Dallas-based merchant banking firm says, "We are confident
in the experienced leadership team of PSI to execute a strong business
roll-up strategy that drives investor value. We expect that PSI will
also deliver significant social and economic value as solar power brings
practical solutions to communities, governments, and individuals
About Principal Solar
Solar, Inc (PSI; Pink Sheets: PSWWD) is a publicly traded renewable
energy holding company which concentrates its resources on the
acquisition, finance, development, and management of solar power
companies to rapidly advance the inevitable utilization of solar power.
The company is building the world's first online library dedicated
exclusively to the field of solar energy - a 24-hour gateway to current
information, perspectives and thought-leadership: www.definitivesolarlibrary.com.
Cautionary Statement Regarding Forward-Looking Statements
Statements in this release regarding future plans, expectations,
projections, events or conditions are forward-looking statements. Actual
results, including business plans and results, integration benefits and
demand growth, could differ materially as a result of a variety of
factors, including our ability to: achieve the value creation goals of
the reverse merger; promptly and effectively integrate businesses; alter
management time on integration-related issues; make changes in long-term
solar energy prices or other market or economic conditions affecting the
solar energy industry; control political or regulatory
developments; foresee technical or operating difficulties; predict
political events or disturbances; manage the outcome of commercial
negotiations; avoid wars and acts of terrorism or sabotage. We cannot
guarantee that any of the events anticipated by this forward-looking
statement will not occur and, if any of them do occur, we cannot control
the subsequent potential impact they might have on our operations or
financial condition. We assume no duty to update these statements in the
future. References to resources in this release include quantities that
are not yet classified as "proved reserves" under SEC definitions, but
that we believe will ultimately be produced.
CPR for Principal Solar, Inc.
Joelle Caputa, 201-641-1911 x54
© Business Wire 2011